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The Australian government bonds suffered during Asian session Friday tracking a similar movement in the U.S. Treasuries after a 7-year auction failed to draw sufficient investor demand amid signs of easing trade tensions between the U.S. and China.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, edged 1-1/2 basis points higher to 0.889 percent, the yield on the long-term 30-year bond rose 1 basis point to 1.479 percent while the yield on short-term 2-year remained flat at 0.724 percent by 04:55GMT.
Global risk sentiment improved on Thursday in hopes that the US and China will restart trade talks. China’s Commerce Ministry spokesperson said although China had ample countermeasures, China prefers to hold dialogue and would much rather focus on removing existing tariffs, OCBC Treasury Research reported.
Further, China also remains open to the previously planned face-to-face meeting in September. President Trump said later that trade talks are scheduled on Thursday at a different level.
Meanwhile, the S&P/ASX 200 index rose 0.72 percent to 6,572.50 by 05:00GMT.
